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BOARD CP GOVERNORS OF THE FEDERAL RESERVE SYS
Released for publication
fuesday morning, February 18

R&S BI - 198
February 17, 1941
BUSINESS INDEXES

(1935-1S39 average * 100 for industrial production;
1923-1925 average » 100 for all other series)
Adjusted for
seasonal variation
1941
1940
Jan.
Deo. I Jan.
Industrial production
Total
Manufactures
Total
Durable
nondurable
Minerals
Construction contracts. value
Total
Residential
All other
Factory employment
Total
Durable goods
Nondurable goods
Factory payrolls
Total
Durable goods
Nondurable goods
Freight-car loadings
Total
Miscellaneous
Department store sales, value
Department store stocks , value

Without
seasonal adjustment
1540
1941
Deo, 1 Jan.
Jan.

pl39

138

122

pl33

135

117

pl42
pl69
pl20
pll9

141
164
123
118

123
136
113
118

pl36
pl61
pll7
pi 14

139
161
120
114

118
128
109
115

pl05
p83
pl23

115
90
156

75
53
93

p86
p69
plOO

93
77
106

61
44
75

*

*

*

116.6
117.5
115.7

•

107.6
102.5
112.4

•

.„

*

..
••

*

*
*

116.2
117.6
114.8

105.0
100.1
109.7

122.4
131.6
112.1

99.8
99.3
100.4

86
101

84
97

78
86

77
G7

77
88

72
74

plOl

101

92

p78

179

71

*

71

68

*

66

61

p—Preliminary.
* Data not yet available#
Note:--Production, carloadings, and department store sales indexes based on daily
averages•
Construction contract indexes based on 3^nonth moving averages, centered at
second month, of ?. W. Dodge data for 37 Eastern States. To convert indexes to
value figures, shown in Federal Reserve Chart Book, multiply total by $410,269,000, residential by ^184,137,000, and all other by $226,132,000.
Employment index, without seasonal adjustment, and payrolls index compiled
by Bureau of Labor Statistics.



•

INDUSTRIAL PRODUCTION
(1956-1939 average » 100)
Adjusted for
seasonal variation
1940
1941
Jan.
Dec. | Jan.

MANUFACTURES
Iron and steel
Pig iron
Steel ingots
Machinery
Transportation equipment
Automobiles
Nonferrous metals and products
Copper smelting
Zinc smelting
Copper deliveries
Zinc shipments
Lumber and products
Lumber
Stone, clay, and glass products
Polished plate glass
Textiles and products
Cotton consumption
Rayon deliveries
Silk deliveries
Wool textiles
Leather and products
Leather tanning
Shoes
Manufactured food products
Wheat flour
Cane sugar meltings
Meat packing
Paper and products
Paperboard
Printing and publishing
Newsprint consumption
Petroleum and coal products
Petroleum refining
Beehive coke
Chemicals
Rubber products
Rubber consumption
MINERALS
Fuels
Bituminous ooal
Anthracite
Cruv'.e petroleum
Mettu r.
It or. ore
C<-t per
Lead
Zinc
Gold
sjilver

p—Preliminary
or estimated.


pi 74
186
pi 73
plTS
pl87
pl49
pl81
pl34
160
p212
142
pl36
pl37
*

137
pl34
138
pl56
p67
pl33
p!04

»

pl06
pll4
98
pll3
pill
•
138
*

103
*
*

p299
*

pl37
140
pll3
pll7
p98
pll3
pl50
182
pl46

-

181
176
181
163
168
134
177
138
147
203
143
132
133
132
117
139
146
166
74
140
108
102
112
120
104
pi 20
134
130
143
112
107
120
116
306
121
138
140

113
116
106
113
148
rl78
141
*
112
136
rl35
*
141
*
132
r—Revised.

147
161
146
127
138
129
164
144
133
162
rl29
116
116
123
122
118
120
rl50
69
106
101
102
101
111
100
95
124
123
127
109
98
117
114
146
113
119
120

2.

e

Without
seasonal adjustment
1940
1941
Dec. ! Jan.
Jan.
pi 70
177
pi 70
pl69
pl86
pl50
pi 76
pl33
153
p200
149
pll6
pill
*

144
pl37
144
pl52
p70
pl36
pl02
*

pl02
plOl
99
p94
pl28
*

132
*

98
*
*

pZ50
*

pl41
144

172
168
172
164
183
152
172
135
162
188
149
121
114
117
141
140
142
154
79
144
98
104
94
115
100
p96
159
123
127
112
106
119
115
357
122
131
133

144
153
143
123
137
130
151
143
136
163
rl35
98
93
90
129
120
125
rl47
72
107
99
102
97
100
101
79
146
120
122
106
93
116
112
170
111
122
123

117
pi 16
116
120
119
pl30
127
rl33
111
pll4
112
128
116
pill
111
114
127
p98
102
88
132
• #
147
pl43
146
144
*
114
118
114
rll9
137
rl39
rl21
•
121
141
114
$
101
133
100
* Data not yet available.